Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0134%/8h= −14.6% APRpaid last 24h −0.035%

Price spread now: KuCoin against Nado+0.071%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$1021.016% of the position

Long on Nado Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.093%−$9 on $10k

Price spread, last 3 days (all we have)−0.092%−$9 · spread now +0.071%, 7d avg +0.010%

Together, before fees−0.184%+ Points / potential airdropNado: Active · farm board−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.060% dearer against Nado than usual: you sell high and buy low (spread +0.071% now, against its 7-day average of +0.010%): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	93.424	0.0234	pay 0.0029% / 1h	0m 16s	$154K	$89K	3x
Short	KuCoin CRCLUSDTM	93.490	0.0100	get 0.0100% / 8h	7h 00m	$2.9M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee NadobpFee KuCoinbpOrdersPrice spread, now +0.071%Rate

Funding earned: −$28.05
Price spread: +0.071% → +0.010%: $6.01
Slippage, 4 orders: −$82.57
Fee Nado: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$123.6
Costs to cover: 1.016%
Break-even: never at this rate

Slippage from Nado: live order book, 7 min ago; KuCoin: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Nado live order book, 7 min ago	1.60 bp	9.0 bp −$9	29.0 bp −$290	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	1.60 bp	41.0 bp −$41	doesn't fit	doesn't fit	doesn't fit

CRCL on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	93.500	+0.081%	$935K	$591K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.460	+0.038%	$15.3M	$25.4M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	93.590	+0.178%	$7.2M	$27.2M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.520	+0.103%	$16.6M	$34.4M	25x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	93.950	+0.563%	$62K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.530	+0.113%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.479	+0.059%	$979K	$3.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	93.768	+0.368%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	93.500	+0.081%	$1.3M	$2.5M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	93.380	−0.047%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	93.484	+0.064%	$71.4M	$40.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.483	+0.063%	$362K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	93.460	+0.038%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.610	+0.199%	$1.0M	$5.7M	10x	as long as short
Variational Omni CRCL	+0.0059%	8h	93.569	+0.155%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0097%	8h	93.504	+0.086%	$767	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	93.541	+0.125%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	93.490	+0.071%	$2.9M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	93.750	+0.349%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.450	+0.028%	$932	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.504	+0.086%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0123%	8h	93.450	+0.028%	$22.6M	$58.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0136%	1h	93.435	+0.011%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0138%	8h	93.423	−0.001%	$107.8M	$385.7M	50x	as long as short
Aster CRCLUSDT	+0.0141%	8h	93.522	+0.105%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERPlong	+0.0234%	1h	93.424	long leg	$154K	$89K	3x
BloFin CRCL-USDT	+0.0261%	8h	93.460	+0.038%	$1.1M	$690K	20x	as long as short
Phoenix CRCL	+0.0296%	1h	93.980	+0.595%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0328%	1h	93.496	+0.077%	$3.0M	$2.3M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.210	+0.841%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	93.720	+0.317%	$96K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	93.524	+0.107%	$427K	$297K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0713%	1h	93.500	+0.081%	$4K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0940%	4h	93.809	+0.412%	$24K	$268K	10x	as long as short